GF Fund Management CO. LTD. Takes $6.69 Million Position in Texas Pacific Land Co. (NYSE:TPL)

GF Fund Management CO. LTD. bought a new stake in shares of Texas Pacific Land Co. (NYSE:TPL - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,046 shares of the financial services provider's stock, valued at approximately $6,687,000.

Several other institutional investors have also added to or reduced their stakes in TPL. GTS Securities LLC bought a new stake in shares of Texas Pacific Land during the 4th quarter valued at $1,144,000. JT Stratford LLC purchased a new position in Texas Pacific Land during the fourth quarter valued at $968,000. Lantern Wealth Advisors LLC bought a new stake in Texas Pacific Land during the fourth quarter valued at about $232,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Texas Pacific Land by 4.4% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 73,933 shares of the financial services provider's stock valued at $81,767,000 after purchasing an additional 3,097 shares during the period. Finally, Woodline Partners LP purchased a new stake in Texas Pacific Land in the fourth quarter worth about $1,251,000. 59.94% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Texas Pacific Land

In other Texas Pacific Land news, VP Micheal W. Dobbs sold 1,150 shares of Texas Pacific Land stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1,271.52, for a total value of $1,462,248.00. Following the completion of the transaction, the vice president now directly owns 1,393 shares of the company's stock, valued at $1,771,227.36. This trade represents a 45.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CFO Chris Steddum sold 214 shares of the stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $1,313.99, for a total transaction of $281,193.86. Following the completion of the transaction, the chief financial officer now directly owns 3,502 shares of the company's stock, valued at approximately $4,601,592.98. The trade was a 5.76% decrease in their position. The disclosure for this sale can be found here. Insiders have acquired a total of 155 shares of company stock valued at $205,391 over the last ninety days. 6.50% of the stock is currently owned by company insiders.

Texas Pacific Land Stock Performance

Shares of NYSE TPL traded down $70.75 during trading on Friday, hitting $1,127.58. The company had a trading volume of 91,325 shares, compared to its average volume of 158,319. Texas Pacific Land Co. has a 12 month low of $578.56 and a 12 month high of $1,769.14. The firm has a market capitalization of $25.92 billion, a P/E ratio of 57.22 and a beta of 1.20. The stock has a 50 day simple moving average of $1,297.15 and a 200 day simple moving average of $1,322.61.

Texas Pacific Land (NYSE:TPL - Get Free Report) last released its earnings results on Wednesday, May 7th. The financial services provider reported $5.24 EPS for the quarter, missing analysts' consensus estimates of $5.27 by ($0.03). Texas Pacific Land had a return on equity of 40.23% and a net margin of 64.32%. The firm had revenue of $195.98 million for the quarter, compared to the consensus estimate of $211.00 million.

Texas Pacific Land Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Shareholders of record on Monday, June 2nd will be paid a $1.60 dividend. The ex-dividend date of this dividend is Monday, June 2nd. This represents a $6.40 dividend on an annualized basis and a yield of 0.57%. Texas Pacific Land's payout ratio is presently 32.02%.

Texas Pacific Land Company Profile

Texas Pacific Land Corporation engages in the land and resource management, and water services and operations businesses. The company owns a 1/128th nonparticipating perpetual oil and gas royalty interest (NPRI) under approximately 85,000 acres of land; a 1/16th NPRI under approximately 371,000 acres of land; and approximately 4,000 additional net royalty acres, total of approximately 195,000 NRA located in the western part of Texas.